MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
GRANDICK TRADING LTD. |
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Registered Office : |
18/F., NO.1 Des Voeux Road West, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
7.1.1998 |
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Com. Reg. No.: |
634135 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and Trading of Medical Herbs, Spice, Dried and Preserved
Food |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
GRANDICK
TRADING LTD.
18/F., NO.1 DES VOEUX ROAD WEST,
SHEUNG WAN, HONG KONG.
TEL: 852
25400018 FAX: 852 25400641
EXECUTIVE SUMMARY
INCORPORATION DATE :
7-1-1998
REGISTRATION NO. :
634135
REGISTERED LEGAL FORM :
PRIVATE LTD
CHIEF EXECUTIVE : MR. YU KWOK HO (DIRECTOR)
STAFF STRENGTH :
5
AUTHORIZED
CAPITAL : HK $10,000 = 10,000 SHARES @ HK $1.-
PAID-UP
CAPITAL : HK $100
BUSINESS LINE :
MANUFACTURING AND TRADING
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
SMALL AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78498 = USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD – Hong Kong Dollars
SC is a private limited company registered under incorporation file no.
634135 on 7-1-1998.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 7-1-2008) Number
of shares held
- Yu Kwok Ho 99
- Yu Siu Shan Ronnie 1
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100
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Director(s) (as at 7-1-2008)
- Yu Kwok Ho / A772148(2)
- Yu Siu Shan Ronnie / K069477(0)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Total number of employees: 5.
Location: Maintaining
its office at the heading business address which occupies a gross area of 1,500
square feet at a commercial building in a commercial district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
Yu Siu Shan Ronnie, director:
- In his mid 30's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Yu Kwok Ho, director:
- In his late 50's & married
- He has over 30 years of experience in present field
- He was a director and the founder of Longson Trading Co. Ltd., which
was dissolved in 1999.
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
records stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 3 Obtained scores : 62 (see explanatory notes below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The rating indicates the personal financial & operational strength
of SC's major principals. It is
calculated from a composite of scores obtained from the following 5 factors which
carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation,
business experience & track record, market connection and management skill.
Upon a current contact, Yu Siu Shan Ronnie, SC's director, declined forwarding
any financial information on the ground that it is the company's policy not
releasing any data to a third party without the benefit of knowing the identity
of the inquiring party.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 7-1-2008 was Nil.
Banking relations are maintained principally with:
- HSBC
- Bank of China (HK) Ltd.
This section will contain the civil litigations & winding-up
petitions filed against SC for the last 6 years (as stored in our database),
and the mortgage/charge records filed by SC for the last 2 years. In Hong Kong, creation of such
mortgages/charges by an unlimited co is not required to be registered in the
public records.
Civil litigation/winding-up petitions: None in our database.
Mortgage/charge record(s): None filed within the last 2 years as per
our current search.
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 1998
Year(s) in which mortgage satisfaction record(s) are filed: Nil
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment records and our debt collection record concerning SC.
Trade payment
experience: SC did not provide any name of
trade/service suppliers and we have no other sources to conduct the enquiry at
present.
Delinquent
payment record: None in our database.
Debt
collection record: No overdue amount owed by SC
was placed to us for collection within the last 6 years.
Business categories:
SC is engaged in manufacturing and trading of medical herbs, spice,
dried and preserved food.
Items available include hoelen, ginseng (Chinese medical herbs), shark
fin, abalone, cinnamon, garlic, etc.
Production is partly assigned to its local sub-contractor(s).
Production is assigned to its affiliated factory/joint venture factory
Wing Shan Native Product International Ltd. located at Heshan, Guangdong
Province, PR China.
Principal purchases :
Major
types of sourcing :
Merchandise, food raw materials
Local--type
of suppliers : Importers and
wholesalers
Buying
terms : COD,
special agreed terms
Overseas--supplying
countries : Canada, Japan, South Korea,
PR China, Australia
Buying
terms : L/C,
open account of 7-30 days, special agreed terms
Principal market:
Local--type
of customers : Wholesalers, dealers
Selling
terms : COD, credit
of 7 days
Overseas--buying
countries : USA, Canada, Japan, South
Korea, SE Asia, Australia
Selling
terms : L/C, special
agreed terms
SC is not known to have any subsidiary at
present.
SC is considered small-sized in its line
locally with acceptable base to meet its normal dealings. Credit dealings of small amount may be
considered.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)